In the world of cryptocurrencies, projects are constantly launching "airdrops" to distribute newly issued tokens for free, as well as high-yield services utilizing stablecoins. By participating early in such airdrops and yield services, there is the potential to obtain significant profits and token acquisition opportunities. The table below compares airdrop activities using USDC across various services.

However, if you jump in without understanding the specific risks of cryptocurrencies and the mechanisms of each protocol, unexpected losses might occur. This article introduces the following 6 projects concerning airdrop farming (yield acquisition) using USDC—which is issued under licenses in the United States and Europe—that Candy Drops is paying attention to.

• Ethena - Link
• Aave - Link
• Multipli Link
• Kaia - Link
• Noble Link
• Coinbase Wallet/Base - Link

We compare and organize points such as airdrop information, methods of utilizing USDC for operations, and token yields.
If you are someone who has touched on cryptocurrencies and airdrops a little but wants to deepen your understanding of blockchain and protocol mechanisms, or if you are interested in simple and relatively low-risk USDC airdrop activities and yield farming, please read to the end.

Below is a table summarizing the categories and key features of each of the 6 projects. Please note the scale of airdrops and handling of stablecoins.

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Below is a table summarizing how each project allows you to generate income or acquire airdrop rewards using USDC. This is a useful reference when engaging in airdrop activities or aiming for stable yields with stablecoins.

Based on the above overview, here is a deeper look into each project. It covers the mechanisms of USDC operations and airdrops as well as key points that beginners to intermediate users should keep in mind.

• Synthetic Dollar USDe and High Yields
  Ethena is a protocol built on Ethereum that issues the synthetic dollar “USDe”, aiming for stability through delta-neutral strategies on ETH (e.g., ETH staking + short positions). It offers yields exceeding 35% through USDe staking, challenging the concept of “internet-native interest income.”
• Large-Scale Airdrop of ENA Tokens
  It introduced the governance token “ENA” and distributed 5% of the total supply (750 million ENA) in the initial airdrop, with its value rising to approximately $500 million at one point, benefiting many early users. The second campaign is currently ongoing, where users can earn points through USDe holding and liquidity provision and later claim ENA tokens.
• Note
  Behind the high yield lie market factors such as funding rates in perpetual trades. Concerns about sustainability have been raised, so it is recommended to check official documentation and community information thoroughly, and to start with a small amount.
• Click here for the detailed article on Ethena

• A Standard in DeFi Lending
  Aave is a major lending protocol operating on multiple networks including Ethereum and Layer2 solutions. It allows users to deposit USDC and earn interest, or borrow by providing collateral. Due to its large liquidity, interest rates remain relatively stable, and it is used by a wide range of investors.
• Proprietary Stablecoin GHO and Merit Rewards
  Introduced in 2023, GHO is a stablecoin that anyone can issue by locking collateral on Aave. Additionally, a Merit system is being considered, which awards points weekly in the form of stkAAVE or GHO based on favorable actions (e.g., borrowing USDC on Base).
• Note
  Beginners are advised to start by supplying USDC to earn interest. Borrowing comes with risks such as variable interest rates and liquidation risk, so it is safer to try it once you are more experienced.
• Click here for Aave’s official website

• Automated Operation with xUSDC
  A platform that automatically optimizes yields across multiple chains. Users deposit USDC/USDT and receive xUSDC/xUSDT in return. The protocol combines farming strategies across various chains, targeting yields of around 15–25%.
• Future Airdrop via ORB Points
  Although a proprietary token has not yet been issued, there are “ORB points” awarded daily based on the balance of xUSDC held, which are planned to be exchanged for future tokens. Early participants can accumulate points more easily and potentially benefit during the initial phase.
• Note
  Since it automatically employs multiple DeFi strategies, it may be difficult to track which protocols are being utilized in the background. While high yields are attractive, it is essential to verify risk diversification and the reliability of operations.
• Click here for a detailed article on Multipli

• A Major L1 Integration from Asia
  Kaia is a layer-1 blockchain born from the merger of Korea’s Kakao Klaytn chain and Japan’s LINE Finschia chain. It leverages the user base of the Asian region and messenger integrations, achieving fast transactions with 1-second blocks and instant finality.
• Earn Native Currency KAIA by Participating in Missions
  By participating in “Missions” on the official portal, users earn Kaia points, which can later be exchanged for the native currency KAIA. Typical missions include providing USDC liquidity or using the bridge. Rewards are distributed in 6 stages over a period of more than 6 months.
• Note
  Although it is EVM compatible, as a mainnet it is still in its developing stage. Liquidity and wallet support may be limited, so it is advisable to test usability with a small amount first.
• Click here for a detailed article on Kaia

• Official USDC Issuance on Cosmos
  Noble emerges as a platform to natively issue “official” USDC on the Cosmos ecosystem. It aims to address issues such as counterfeit USDC via bridges and multi-chain token problems, providing a smooth and official USD-linked asset.
• Interest-Bearing Stablecoin USDN
  By depositing USDC with Noble and converting it to USDN, users receive an automatic interest yield of approximately 4.15% APY. The revenue generated from operating in short-term US government bonds is distributed back to the users.
• Note
  Since knowledge of Cosmos wallets and IBC transfers is required, it might be challenging for beginners. Additionally, until liquidity sufficiently increases, be aware of potential slippage during trades or transfers.
• Click here for a detailed article on Noble

• Coinbase’s Ethereum L2
  Base is a layer-2 solution developed by major exchange Coinbase, built on Optimism-based technology. It features low fees and fast transactions, while also benefiting from Ethereum’s security.
• Earn 4.7% Interest Just by Holding USDC in the Wallet
  By holding USDC in Coinbase Wallet, you currently earn a reward with an annual percentage yield (APY) of 4.7%. With Coinbase Wallet, you can grow your USDC from almost anywhere in the world without intermediaries or high fees. Rewards are paid directly to the Base wallet monthly. This feature is available in most regions worldwide and is being rolled out to users in the United States starting this week.
• No Native Token Issuance & On-Chain Summer Event
  While many L2s have issued tokens, Base has declared its current policy of not issuing any tokens. However, expectations for future airdrops remain high, and the platform attracts users with campaigns like NFT minting and point acquisition (On-Chain Summer).
• Note
  Although it is a new L2, major DeFi protocols like Aave and Uniswap have already begun to support it, constructing a relatively robust ecosystem. Cases of high yields from USDC operations on Base exist, making it easy to experience through Coinbase Wallet.
• Click here for Coinbase Wallet’s official page

This time, we compared the methods for airdrop information and USDC-based yield operations focusing on Ethena, Aave, Multipli, Kaia, Noble, and Coinbase Wallet (Base).

Each project has diverse features such as:

• High yields (e.g., Ethena and Multipli)
• Stable lending (Aave)
• Rewards tied to the expansion of emerging L1 ecosystems (Kaia)
• Returning stablecoin interest to users (Noble)
• Potential for future token airdrops (Coinbase Wallet/Base)

A common thread is that “early participation could lead to significant reward opportunities.” On the other hand, projects advertising high yields often involve complex strategies, volatility, and liquidity risks, so it is crucial to carefully research the protocol mechanisms and the track record of the development team.

Candy Drops will continue to introduce new airdrop and stablecoin operation information. For those aiming to become intermediate cryptocurrency users, it is recommended to learn about the technology and project visions as well as earn money. Secure promising tokens as early as possible and enjoy the world of cryptocurrencies even more!

-- This concludes the overview of the 6 projects focused on airdrops and stablecoin operations that Candy Drops is watching. We will revisit this topic when there are further developments or new campaigns, so please check back regularly!